It has emerged that St Vincent and the Grenadines is preparing to launch a designated agency for the promotion of investment in the jurisdiction, which will be known as National Investment Promotions Inc. (NIPI).
NIPI, which is set to commence operations on August 16, will take over from the Development Corporation (DEVCO), which initially managed the investment promotion functions of St Vincent and the Grenadines.
The founding by decree in October 2003 of a designated agency for the promotion of investment resulted from a report commissioned by the government on the effectiveness of DEVCO in this capacity.
The new agency will report to the Office of the Prime Minister, Dr Ralph Gonsalves, who will also be a keynote speaker at the NIPI official launch.
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